Required information [The following information applies to the questions displayed below.] Income statement and balance sheet data for Virtual Gaming Systems are provided below. Net sales. VIRTUAL GAMING SYSTEMS Income Statements For the Years Ended December 31 Cost of goods sold Gross profit Expenses: Operating expenses Depreciation expense Loss on sale of land Interest expense Income tax expense Total expenses Net income 2025 $ 3,560,000 2,490,000 1,070,000 965,000 40,000 0 23,000 9,000 2024 $ 3,086,000 1,960,000 1,126,000 868,000 32,000 9,000 1,037,000 $ 33,000 20,000 58,000 987,000 $ 139,000 VIRTUAL GAMING SYSTEMS Balance Sheets: December 31 2025 2024 2023 Assets Current assets: Cash Accounts receivable Inventory Prepaid rent Long-term assets: Investment in bonds Land Equipment Less Accumulated depreciation Total assets. $ 216,000 90,000 140,000 $ 196,000 91,000 115,000 15,000 13,000 115,000 115,000 220,000 280,000 (84,000) 310,000 310,000 (124,000) $ 1,072,000 $ 946,000 $ 154,000 70,000 145,000 7,200 250,000 220,000 (52,000) $ 794,200 3. Assets of 2 VIRTUAL GAMING SYSTEMS Balance Sheets December 31 2025 2024 2023 ook mint rences Current assets: Cash Accounts receivable Inventory Prepaid rent Long-term assets: Investment in bonds Land Equipment Less: Accumulated depreciation Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable Income tax payable. Long-term liabilities: Notes payable Stockholders equity: $ 216,000 90,000 $ 154,000 70,000 145,000 7,200 $196,000 91,000 140,000. 115,000 15,000 13,000- 115,000 115,000 0 310,000 220,000 250,000 310,000 (124,000) $ 1,072,000 280,000 (84,000) $ 946,000 220,000 (52,000) $ 794,200 $ 161,000 12,000 13,000 $ 76,000 8,000 $91,000 4,000 20,000 15,000 450,000 295,000 235,000 Common stock 310,000 310,000 Retained earnings 126,000 237,000 310,000 139,200 Total liabilities and stockholders' equity $ 1,072,000 $ 946,000 $ 794,200 Required: 1. Assuming that all sales were on account, Calculate the following asset management and risk ratios for 2025 and 2024: Note: Round your answers to 1 decimal place. Receivables turnover ratio 2025 2024 times F times 450,000 295,000 235,000 310,000 310,000 310,000 Retained earnings 126,000 237,000 139,200 Total liabilities and stockholders' equity $ 1,072,000 $ 946,000 $ 794,200 1.25 points eBook Print References Income tax payable Long-term liabilities: Notes payable Stockholders' equity: Common stock Required: 1. Assuming that all sales were on account, Calculate the following asset management and risk ratios for 2025 and 2024: Note: Round your answers to 1 decimal place. Receivables turnover ratio Inventory turnover ratio Current ratio Debt to equity ratio 2025 2024 + times times times times to 1 % to 1 %